Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Portable Players in India

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Executive Summary

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PROSPECTS

Smartphones negatively impact sales of portable players

The growth of smartphones is negatively affecting the sales of portable media players in India. As smartphones act as multi-utility devices which can store and play both music and video, there is no requirement for an additional portable player, thereby largely limiting the use and sale of these devices.

Online services key to decline

Online music streaming services, such as Amazon Music, gaana and saavn, are increasingly being preferred by consumers. Portable MP3 players now seem impractical because users need to download the music file and each device has limited memory capacity.

Wireless Bluetooth speakers exhibit strong growth

The portable Bluetooth speaker category is growing dynamically in India, thanks to the huge consumption of audio and video on smartphones. Growing demand for mobility, the rise of connected devices and the increasing penetration of Wi-Fi networks are making wireless connectivity a standard feature in urban households.

COMPETITIVE LANDSCAPE

Wireless speakers witnesses a wave of new entrants

Harman International Industries Inc remained the leader in the wireless speaker category in 2018, followed by Sony India Pvt Ltd. These players maintained their leadership through lower-priced options and offering various discounts during the year.

Specialists remain dominant

Electronics and appliance specialists remains the dominant retail channel for the purchase of portable players in India. These retailers are shifting their product offerings and store environment in line with the growing popularity of wireless speakers.

Internet retailing gaining in popularity

Internet retailing is becoming increasingly popular in India, owing to wider product and brand availability, attractive offers and discounts, and the exclusive launch of products through e-commerce websites, such as Amazon and Flipkart. The growth of internet retailing is also attributed to the rising prominence of smart wireless speakers by global brands such as Google and Amazon.

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